GreenVision Formed to Acquire Licenses for Cannabis Products
SAN JUAN – StereoVision Entertainment Inc., a Nevada publicly traded company, announced Tuesday the formation of the equally owned Puerto Rico company GreenVision Systems LLC to acquire licensing for the cultivation, manufacturing and transportation of cannabis products on the island.
StereoVision focuses on creating, acquiring and producing multimedia content. It generates intellectual properties and technologies for content distribution platforms.
“The emergency was decreed on July 8, 2016 and is being certified and done because, to the extent that there are no rules, access to medical treatment to patients who use cannabis as part of their treatment is delayed,” Gov. Alejandro García Padilla said when certified a mechanism to implement a medical cannabis program on the island.
The certification signed by García Padilla also highlights the program as a tool for economic development. “The new medical cannabis regulations encourage local investments, attracts foreign investments, and creates jobs in research, manufacturing and dispensing. It also boosts the agricultural sector, medical tourism, and is attracting a good amount of taxes,” the document reads.
“For 10 years we’ve been developing our presence in Puerto Rico,” StereoVision CEO Jack Honour says in the company’s news release. “Because of our extensive network of contacts in Puerto Rico and the generous filmmakers’ incentives, several of StereoVision’s films were designed specifically to be produced there. As per Puerto Rico’s rules relative to Cannabis licenses, with our 51% Puerto Rican resident partner and our 49% share, upon licensing approval we intend to maximize our potential by bringing in a seasoned operating partner with a history of success in the Cannabis industry.
“We will then look into acquiring further licensing. An additional value in Puerto Rico is banking coops are already in business allowing Cannabis businesses to have operating accounts and the ability to keep cash reserves on deposit. While management’s number one priority is working to build shareholder value, with the amazing medical advances demonstrated with Cannabis, we are proud to be a part of bringing this medication to those many good people for whom only Cannabis can bring relief.”
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